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Large cryptocurrencies were in the green on Thursday evening as the global cryptocurrency<\/a> market cap rose 0.4% to $798.2 billion at 7:13 p.m. EST.\u00a0??
Price Performance Of Major Coins
Coin
24-hour
7-day
Price
Bitcoin BTC\/USD
0.45%
-1.1%
$16,639.15
Ethereum ETH\/USD
0.8%
-1.3%
$1,200.97
Dogecoin DOGE\/USD
0.6%
-7.6%
$0.07
Top 24-Hour Gainers (Data via CoinMarketCap)
Cryptocurrency
24-Hour % Change (+\/-)
Price
Bit Dao (BIT)
+18.6%
$0.33
Toncoin (TON)
+6.9%
$2.11
Trust Wallet Token (TWT)
+5.9%
??$1.33
See Also: 6 Best Cryptocurrencies In 2022 For Investing\u00a0<\/a>Why It Matters: Bitcoin and Ethereum traded almost 0.4% and 0.8% higher intraday as the year drew to a close. At the time of writing, the two largest coins were resilient even as U.S. stock futures turned red ahead of the last trading day of 2022.\u201cInvestors are going into 2023 with a cautious mindset, prepared for more rate hikes, and expecting recessions around the globe. The bar is low but arguably reasonably so,\u201d said Craig Erlam, a senior market analyst with OANDA.\u201cBitcoin continues to happily tread water and watch the storm pass as it fluctuates in a range of around $16,000-$17,000. That\u2019s broadly been the case over the last couple of weeks and it doesn\u2019t look like changing in the coming days, barring any unexpected headlines,\u201d said Erlam, in a note seen by Benzinga.Erlam wrote that he was not convinced if the apex coin has \u201cbottomed\u201d and how long it will take for investor confidence to return.\u201cI\u2019m not convinced by either in the near term and think there are plenty more twists and turns to come early next year.\u201dMicha\u00ebl van de Poppe said Bitcoin saw harsh rejection at the $16,800 and $16,600 levels. \u201cLooks to be we\u2019re testing the block around $16,400 again for [Bitcoin],\u201d said the trader.Trader Justin Bennett touched on the weakness in the dollar index \u2014 a measure of the greenback\u2019s strength against a basket of six currencies \u2014 and said it matters for Bitcoin too. The dollar index was noted at 103.98, down 0.46% intraday at the time of writing.Chartist Ali Martinez noted that Ethereum whales with holdings between 10,000 and 100,000 ETH have sold or redistributed around 880,000 ETH since December 2022.Read Next: If Bitcoin Breaches This Mark, It Could Become \u2018Very Unstable,\u2019 Says Crypto Analyst<\/a><\/p>\n<\/div>\n